Energy Recovery is a high-margin IP business priced like an industrial, and water is the overlooked bottleneck for AI and people alike. Its PX Pressure Exchanger, over 90% of revenue at 60%+ gross margins, cuts desalination energy use up to 60% with no competitor. The stock halved on guidance cuts tied to its 50% Middle East exposure during the Iran war and CEO and CFO exits, but Q1 revenue grew 20% and a resolving war is a catalyst. It has $77M net cash, a ~9% buyback yield and insider buying. … Show more

Energy Recovery is the best way to play desalination if the regime throws a hail mary at desalination plants, which have already been discussed as possible targets. The theme has about a thousandth as many stocks as energy, where low-float proxy BATL rose 27x. Energy Recovery is one of only a handful of pure plays, an optional small cap, with a fortress valuation and project backlog. x.com 

Texas Pacific Land gets a tailwind for its royalty stream as oil spikes on renewed Iran tensions. The stock fell from about $450 to $375 on fear tied to a headline about a major shareholder, not anything fundamental. Its water-treatment business is a growth story most investors are not yet pricing, with a national-security angle on top. A pullback near $400 would be a buying opportunity. x.com  x.com 

EROK looks like a low-risk buy as a debt-free, land-owning royalty business with little representation in major indexes, so it adds no meaningful systemic risk. The case only breaks if the world stops needing oil, the basins run dry, or AI no longer needs land, water and natural gas, all of which seem unlikely. x.com